Britain is well known as the site of the world’s first Industrial Revolution, but until recently London – home of the scientific and financial revolutions that preceded industrialization – was rarely considered an entrepreneurial hotspot since then.
London seemed simply not to have captured the kind of world-class, innovation-driven entrepreneurship that has propelled Silicon Valley and Kendall Square to international acclaim.
Seeking to play my role in helping London recapture some of its entrepreneurial tradition, I took up a post in Fall 2012 as a Visiting Scholar at MIT Sloan on behalf of the British Government. For the previous five years, I had been Britain’s Consul General to New England focused on transatlantic business development and had moved the Consulate into One Broadway (aka E70) to deepen the links with MIT, Kendall Square and the high-tech sectors.
We heard the presidential candidates discuss their views again Tuesday night, and it is clear that they agree on at least one thing: jobs and job creation policies are critical to the future of the economy. Yet like many politicians, policy makers, and pundits, the candidates continue to gloss over what both men certainly know to be true: Not all jobs are created equal.
Based on our work at the Martin Trust Center for MIT Entrepreneurship, we see two clear and distinct routes to new job creation.
MIT Sloan Sr. Lecturer Bill Aulet
There are small- and medium-sized companies created to offer traditional goods and services to a local or regional market. Think “mom and pop” operations. They include your yoga studio and the pizza place down the street. While valuable to the economy in general, these companies are not large enough to serve as a growth engine for the entire economy. They do, however, offer important opportunities for employment and provide valuable services. Read More »